MOO

Dec 23, 2015

  1. agentinsouth
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    agentinsouth Guru

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    I have a growing P&C personal lines book. I am already pointed by MOO & pondering getting the 6. Anyone have experience w/ MOO's investment group? Thanks!
     
  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    I think securities with Mutual of Omaha is only for career agents, not independents.
     
    DHK, Dec 23, 2015
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  3. heynow5
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    heynow5 Expert

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    Don't get a 6. Get a 65 and hook up with an RIA.
     
    heynow5, Dec 23, 2015
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  4. agentinsouth
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    agentinsouth Guru

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    You are correct- I talked w/ them & I have an APC contract and would have to redo the contract and have no desire to change it.

    ----------

    Thanks, I am looking into it.

    As a P&C guy wanting to cross-sell the book, y'all like the 65 idea better?
     
  5. heynow5
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    heynow5 Expert

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    Yes, if you go with the 6 will be able to earn commissions but compliance will be a pain. 65 will be fee only so you would charge around 1% per year but less headache.
     
    heynow5, Dec 24, 2015
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  6. agentinsouth
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    agentinsouth Guru

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    It looks like Schwab, Scott,and several others have programs. Any suggestion on who to focus my research on? Thanks!
     
  7. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    It depends on whether you want to form and create your own RIA firm... or be an IAR for someone else's RIA firm.

    If you're just getting started, it's far cheaper and probably a much better bet to join someone else's RIA firm as an IAR.

    RIAs I've looked into are:
    - FANRIA: First American National
    - Horter Investment Management: Homepage – Horter Investment Management, LLC and Peace of Mind Planning | Home

    Both are generally built for the independent life agent wanting to add portfolio management to their practice through 3rd party asset managers. However, FANRIA is rather new to it (2-3 years?) and has about $65 million AUM (according to their last ADV Part 2) while Horter has $1.1 Billion in AUM.

    If you're looking to start your own RIA from scratch, I've heard good things about TradePMR.

    RIA Brokerage Services | Registered Investment Advisor Tools | RIA Trading Platform | TradePMR Brokerage and Custody Services

    Become An RIA | RIA Registration, Qualifications and Compliance | Registered Investment Advisor Tools | TradePMR

    I am not affiliated with any of these companies. They're just the ones I've been looking at as I've done my own research.
     
    DHK, Dec 24, 2015
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  8. heynow5
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    heynow5 Expert

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    If you have a lot of knowledge you may want to start your own. If not probably best to join an existing. You can use third party money managers so you would just manage the relationship without actually managing the individual investments.
     
    heynow5, Dec 24, 2015
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  9. Freddie
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    Freddie Guru

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    65 or 66? 66 supposedly has 65 and 63.

    If you join up with an RIA like Horter, which will make you an IAR, just make sure the assets you bring in are your assets under management. That way if you down the road decide to start your own RIA, you can move the clients assets to your own RIA.
     
    Freddie, Dec 28, 2015
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  10. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    The series 66 (which combines the 63 'blue sky laws' + 65 'investment adviser act of 1940') is for those who also have the Series 7 and affiliated with a B/D.

    However, if you already had a 7 & 66 and chose to affiliate or start an RIA, the Series 66 would still be acceptable within 2 years of leaving the B/D.
     
    DHK, Dec 28, 2015
    #10